corporate relationship department bse limited through: bse ... · 10/30/2019 · ms. jayantika...
TRANSCRIPT
www.mpslimited.com Registered Office: RR Towers IV, Super A, 16/17, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai-600032 (INDIA), Tel: +91 44 49162222 Fax: +91 44 49 16 2225 Email: [email protected]
Corporate Identification Number: L22122TN1970PLC005795
October 30, 2019
Listing Department The National Stock Exchange of India Limited Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex Bandra (E), Mumbai - 400 051 Trading Symbol: MPSLTD Through: NEAPS
Corporate Relationship Department BSE Limited Phiroze JeeJeebhoy Towers, Dalal Street, Fort, Mumbai – 400 001 Scrip Code: 532440 Through: BSE Listing Centre
Sub.: Outcome of the Board Meeting held today i.e. Wednesday, October 30, 2019
Dear Sir/ Madam,
Pursuant to the Regulation 30 of the SEBI (Listing Regulations and Disclosure
Requirements) Regulations, 2015 (Listing Regulations), we hereby inform that the
Board of Directors of the Company, at their meeting held on October 30, 2019, have
inter-alia, approved the following:
1. The Un-Audited Financial Results (Standalone and Consolidated) of the
Company for the quarter and half year ended September 30, 2019. The said
Financial Results alongwith Limited Review Reports of the Statutory Auditors
thereon and Investors’ release on these Financials are enclosed herewith.
2. Special Interim Dividend of INR. 50 per Equity Share of INR 10 each and have
fixed Thursday, November 07, 2019 as the Record Date for the Special Interim
Dividend for the Financial Year 2019 - 20.
3. Pursuant to the Regulation 30 of the SEBI (Listing Regulations and Disclosure
Requirements) Regulations, 2015 (Listing Regulations), based on the
recommendation of Nomination and Remuneration Committee approved the
appointment of Ms. Jayantika Dave (DIN: 01585850), as an Additional Director
designated as an Non - Executive and Independent Director of the Company,
with effect from October 30, 2019, to hold office for a period of two(2) years
with effect from 30th October 2019 up to 29th October 2021, subject to the
approval of the shareholders in the next Annual General Meeting of the
Company. The brief profile of Ms. Jayantika Dave is enclosed herewith.
Ms. Jayantika Dave is not related to any of the existing Directors of the
Company and is not debarred from holding the Office of Director by virtue of
any order passed by SEBI or any other such authority.
www.mpslimited.com Registered Office: RR Towers IV, Super A, 16/17, Thiru-Vi-Ka Industrial Estate, Guindy, Chennai-600032 (INDIA), Tel: +91 44 49162222 Fax: +91 44 49 16 2225 Email: [email protected]
Corporate Identification Number: L22122TN1970PLC005795
4. Pursuant to the Regulation 30 of the SEBI (Listing Regulations and Disclosure
Requirements) Regulations, 2015 (Listing Regulations), based on the
recommendation of Nomination and Remuneration Committee, approved the
appointment of Ms. Achal Khanna (DIN: 00275760), as an Additional Director
designated as Non - Executive and Independent Director of the Company, with
effect from October 30, 2019, to hold office for a period of two(2) years with
effect from 30th October 2019 up to 29th October 2021 subject to the approval
of shareholders at the next Annual General Meeting of the Company. The brief
profile of Ms. Achal Khanna is enclosed herewith.
Ms. Achal Khanna is not related to any of the existing Directors of the Company
and is not debarred from holding the Office of Director by virtue of any order
passed by SEBI or any other such authority.
Please take the above information and enclosed documents on record.
Thanking you,
Yours Sincerely,
For MPS Limited
Sunit Malhotra
CFO & Company Secretary
Encl.: as above
To
8 S R & Co. LLP Chartered Accountants
Building No. 10, 8th Floor, Tower-B DLF Cyber City, Phase • 11 Gurugram-122 002, India
Telephone: +91 124 719 1000 Fax: +91 124 235 8613
Board of Directors ofMPS Limited
I. We have reviewed the accompanying Statement of unaudited standalone financial results of MPS Limited ("the Company") for the quarter ended 30 September 2019 and year to date results for the period from 01 April2019 to 30 September 2019. ("the Statement").
2. This Statement, which is the responsibility of the Company's management and approved by
the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting' ("lnd
AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting
principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review
Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to
whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus
provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
4 . Based on our review conducted as above, nothing has come to our attention that causes us to
believe that the accompanying Statement, prepared in accordance with applicable accounting
standards and other recognised accounting practices and policies has not disclosed the
information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which
it is to be disc losed, or that it contains any material misstatement.
Place: C.~~VOV1 Date: 30 October 2019
ForB SR & Co. LLP Chartered Accountants ICAI Firm's Registration Number: 101248W/W-100022
Shashank Agarwal
Partner Membership Number: 095109
UDIN: I C\011~ \0~ A~ t>rf.'/~ft~'1-
B S R & Co. (a pannarship firm wilh Registration No. 8A61223) ~Into B S R & Co. LLP fa Umiled L~ Parlnersntp with LLP Regictration No. AAB-&tet) with effect ffom Oc!ober 14. 2013
~Otnce : ~th Ftoor, Lodha Excelus Apollo Mills Compound N.M. ~ Marg, Mahalakshml Mumbai- 400 011
Page 1-4
MPS LimitedRegistered Office: 4th Floor, R.R Towers IV, Super A, 16/17, T.V.K. Industrial Estate, Guindy, Chennai 600 032Tel: +91 44 49162222, Fax: +91 44 49162225, Email: [email protected], Web site: www.mpslimited.com CIN: L22122TN1970PLC005795
STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2019(INR in lacs, except per equity share data)
Sl No
Particulars Three months ended
Preceding three months ended
Corresponding three months
ended in previous year
Year to date figures for
six months in current period
ended
Year to date figures for
six months in previous period
ended
Previous year ended
30-Sep-2019 30-Jun-2019 30-Sep-2018 30-Sep-2019 30-Sep-2018 31-Mar-2019
(Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Audited)
I Revenue from operations (net) 5,102 4,678 5,970 9,780 11,630 22,396
II Other income 660 463 433 1,123 851 2,602
III Total income (I+II) 5,762 5,141 6,403 10,903 12,481 24,998
IV Expenses
Employee benefit expense 2,193 2,241 2,147 4,434 4,318 8,620
Finance cost 33 34 2 67 4 19
Depreciation and amortization expense 188 191 163 379 333 646
Other expenses 987 923 1,330 1,910 2,634 5,127
Total expenses 3,401 3,389 3,642 6,790 7,289 14,412
V Profit before exceptional items (III-IV) 2,361 1,752 2,761 4,113 5,192 10,586
VI Exceptional items - - - - - -
VII Profit before tax (V-VI) 2,361 1,752 2,761 4,113 5,192 10,586
VIII Tax expenses
Current tax 483 576 760 1,059 1,529 2,971
Adjustment of tax relating to earlier years 21 - - 21 - 6
Deferred tax charge (7) (61) 46 (68) (37) 135
Total tax expense 497 515 806 1,012 1,492 3,112
IX Profit for the period (VII-VIII) 1,864 1,237 1,955 3,101 3,700 7,474
X Other comprehensive income
Items that will not be reclassified to profit or loss
Remeasurement of the net defined benefit liability/asset (3) (14) 2 (17) 11 (14)
Income tax relating to items that will not be reclassified to profit or loss - 4 - 4 (3) 4
Total other comprehensive income (3) (10) 2 (13) 8 (10)
XI Total comprehensive income for the period (IX+X) 1,861 1,227 1,957 3,088 3,708 7,464
XII Paid-up equity share capital (Face Value - INR 10 per Equity Share) 1,862 1,862 1,862 1,862 1,862 1,862
XIII Earnings per equity share (nominal value of share INR 10)
Basic and Diluted 10.01 6.64 10.50 16.65 19.87 40.14
Page 2-4
STATEMENT OF UNAUDITED STANDALONE ASSETS AND LIABILITIES (INR in lacs)
S.No. Particulars As at 30-Sep-2019
As at 31-Mar-2019
(Un-Audited) (Audited)
A ASSETS
1 Non-current assets
Property, plant and equipment 1,632 1,726
Investment property 109 111
Right-of-use assets 959 -
Goodwill 50 50
Other intangible assets 549 682
Financial assets
Investments 14,061 13,980
Loans 1,964 2,217
Other financial assets 27 27
Income tax assets (net) 677 624
Other non-current assets 290 277
Total non-current assets 20,318 19,694
2 Current assets
Financial assets
Investments 12,903 16,772
Trade receivables 3,031 3,782
Cash and cash equivalents 2,100 571
Other bank balances 2,780 2,780
Loans 508 248
Other financial assets 560 371
Other current assets 4,298 4,083
Total current assets 26,180 28,607
TOTAL ASSETS 46,498 48,301
B EQUITY AND LIABILITIES
1 Equity
Equity share capital 1,862 1,862
Other equity 41,375 44,102
Total equity 43,237 45,964
2 Liabilities
Non-current liabilities
Lease liabilities 985 -
Deferred tax liabilities (net) 358 514
Total non-current liabilities 1,343 514
3 Current liabilities
Financial liabilities
Lease liabilities 257 -
Trade payables
Due to Micro and Small enterprises 4 26
Due to Others 514 479
Other financial liabilities 377 304
Other current liabilities 410 627
Provisions 220 251
Income tax liabilities (net) 136 136
Total current liabilities 1,918 1,823
TOTAL EQUITY AND LIABILITIES 46,498 48,301
Page 3-4
STATEMENT OF UNAUDITED STANDALONE CASH FLOW (INR in lacs)
Sl No Particulars Year to date figures for six months
in current period ended
Year to date figures for six months
in previous period ended
Previous year ended
30-Sep-2019 30-Sep-2018 31-Mar-2019
(Un-Audited) (Un-Audited) (Audited)
A Cash flow from operating activities
Net profit before tax 4,113 5,192 10,586
Adjustments:
Depreciation and amortisation expense 379 333 646
Interest income (381) (71) (236)
Dividend income (3) (8) (13)
Net gain on sale of current investment (22) (137) (159)
Finance costs 67 4 19
Gain on sale/disposal/discard of property, plant and equipment (net) - (1) (1)
Gain on investment carried at fair value through profit or loss (586) (567) (1,322)
Liabilities/provisions no longer required written back (19) (24) (184)
Allowances/(reversal) for expected credit loss 7 (29) (16)
Bad debts written off - 22 8
Loss/(gain) allowance for doubtful advances 2 (4) -
Income from government grants - - (567)
Loans and advances written off 1 - -
Unrealised foreign exchange loss/(gain) (net) 71 (72) (81)
Unrealised foreign exchange loss/(gain) on mark-to-market on forward contracts 123 247 (137)
Operating cash flows before working capital changes 3,752 4,885 8,543
Decrease/(increase) in trade receivables 703 151 (82)
(Increase)/decrease in loans (9) 2 (5)
(Increase)/decrease in other financial assets (192) (1,182) 1,795
(Increase) in other current assets (216) (259) (2,745)
(Increase)/decrease in other non current assets (13) (6) 93
Increase/(decrease) in trade payables 18 (86) (205)
Increase /(decrease) in other financial liabilities 72 235 (51)
(Decrease)/increase in other current liabilities (216) (162) 17
(Decrease) in short-term provisions (51) (90) (52)
Cash generated from operations 3,848 3,488 7,308
Income tax paid (net of refund) (1,106) (1,255) (3,013)
Net cash generated from operating activities (A) 2,742 2,233 4,295
B Cash flow from investing activities
Purchase of property, plant and equipment (including capital work-in-proress) (33) (121) (131)
Purchase of other intangible assets - - (23)
Sale of property, plant and equipment - 1 1
Investment in subsidiaries - (5,810) (9,810)
Loan to subsidiary - (2,300) (2,300)
Purchase of current investments (10,715) (14,292) (18,438)
Sale of current investments 15,111 23,456 32,034
Purchase of term deposits - - (2,780)
Dividends received 3 8 13
Interest received 235 15 132
Net cash generated from/(used in) investing activities (B) 4,601 957 (1,302)
C Cash flow from financing activities
Repayment of lease liabilities including interest expenses (187) - -
Finance cost paid - (5) (9)
Final dividend paid (4,654) (2,234) (2,234)
Tax on dividend (957) (459) (459)
Net cash used in financing activities (C) (5,798) (2,698) (2,702)
Net increase in cash and cash equivalents (A+B+C) 1,545 492 291
Effects of exchange differences on cash and cash equivalents held in foreign currency (16) 74 (2)
Cash and cash equivalents at the beginning of the period 571 282 282
Cash and cash equivalents at the end of the period 2,100 848 571
Page 4-4
(b) Assets and liabilities used in the Company’s business are not identified to any of the reportable segments, as these are used interchangeably between segments and the management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities.
3 Effective 1 April 2019, the Company adopted Ind AS 116 “Leases”, applied to all lease contracts existing on 1 April 2019 using the modified retrospective method and has taken the cumulative adjustment to retained earnings, on the date of initial application. Accordingly, comparatives for the year ended 31 March 2019 have not been retrospectively adjusted. On transition, the adoption of the new standard resulted in recognition of Right-of-use asset (ROU) of INR 1,077 Lacs and a lease liability of INR 1,365 Lacs. The cumulative effect of applying the standard resulted in INR 205 Lacs being debited to retained earnings, net of taxes. The effect of this adoption is not material on the profit for the period and earnings per share.
4 The Board of Directors, in their meeting held on 17 May 2019 had recommended a final dividend of INR 25 per equity share (face value of INR 10 per share) for the financial year 2018-19. This was approved in the Annual General Meeting of the Company held on 24 July 2019 and paid during the quarter ended 30 September 2019.
(INR in lacs)
Sl No Particulars
Three months ended
Preceding three months
ended
Corresponding three months
ended in previous year
Year to date figures for six months in current
period ended
Year to date figures for six months in previous
period ended
Previous year ended
30-Sep-2019 30-Jun-2019 30-Sep-2018 30-Sep-2019 30-Sep-2018 31-Mar-2019
(Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Audited)
I Segment revenue
Content solutions 4,220 3,826 4,884 8,046 9,517 18,439
Platform solutions 882 852 1,086 1,734 2,113 3,957
Total revenue from operations 5,102 4,678 5,970 9,780 11,630 22,396
II Segment results (profit before tax, exceptional items and interest from each segment)
Content solutions 1,825 1,367 2,426 3,192 4,572 8,119
Platform solutions 507 466 698 973 1,297 2,406
Total 2,332 1,833 3,124 4,165 5,869 10,525
Less: Finance cost 33 34 2 67 4 19
Less: Un-allocable expenditure (net of un-allocable income) (62) 47 361 (15) 673 (80)
Profit before tax 2,361 1,752 2,761 4,113 5,192 10,586
By Order of the Board of Directors
Rahul Arora
Place: Gurugram
Dated: October 30, 2019 Managing Director
NOTES:
1 These results have been prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules 2015. These results have been reviewed by the Audit Committee and upon their recommendation, approved by the Board of Directors at their meeting held on 30 October 2019. The Statutory auditors of the Company have carried out limited review of the financial results for the quarter and half year ended 30 September 2019 and an unmodified report has been issued. The same has been filed with Stock Exchanges and is also available on the Company’s website at www.mpslimited.com.
2 Segment Reporting
(a) Based on the “management approach” as defined in Ind AS108 Operating Segments, the Chief Operating Decision Maker (‘CODM’) evaluates the Company’s performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along with these business segments. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments.
To
B S R & Co. LLP Chartered Accountants
Building No. 10, 8th Floor, Tower-B DLF Cyber City, Phase - II Gurugram- 122 002, India
Board of Directors of MPS Limited
Tetephone: +91 124 719 1000 Fax: +91 124 235 8613
l. We have reviewed the accompanying Statement of unaudited consolidated financial results ofMPS Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as
"the Group"), for the quarter ended 30 September 2019 and year to date results for the period from 1 April 2019 to 30 September 2019 ("the Statement"), being submitted by the Parent pursuant to
the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
2. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board ofDirectors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("lnd AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our
responsibility is to express a conclusion on the Statement based on our review.
3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants oflndia. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.
4. The Statement includes the results of the following entities:
• MPS Limited • MPS Interactive Systems Limited • MPS NA LLC • TOPSIM GmbH • MPS Europa AG
5. Based on our review conducted and procedures performed as stated in paragraph 3 above and other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement
principles laid down in the aforesaid Indian Accounting Standard and other accounting principles
generally accepted in India, has not disclosed the information required to be disclosed in terms of
Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
B S R & Co. (a partnership firm with Registration No. 8Ae1223) ~ "'"' 9 S R & Co. LLP ta Um<led Llabilily Partnership with LLP Registration No. AAB-6181) wilt! effect from October 14, 2013
Reglltered Ofllot : 5th Fto01', Lodha Excelus Apollo ...... Coonpound N.M. Joslli Marg, Mahalalcshml Mumblli • 400 011
B S R & Co. LLP
6. We did not review the financial information of 2 subsidiaries included in the Statement, whose fi nancial information reflect total assets of Rs. 2412.63 lacs as at 30 September 2019 and total revenues ofRs. 761 .53 lacs and Rs. 1586.40 lacs , total net profit after tax of Rs. 26.65 lacs and Rs 57.49 lacs and total comprehensive income of Rs. 28.36 lacs and Rs. 77.59 lacs, for the quarter ended 30 September 2019 and for the period from 01 April 2019 to 30 September 2019, respectively, and cash flows (net) of Rs. (7.71) lacs for the period from 01 April 2019 to 30 September 2019, as considered in the consolidated unaudited financial results. These financial information have been reviewed by other auditors whose reports have been furnished to us by the management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.
Our conclusion on the Statement is not modified in respect of the above matters.
Place: C.~~'-"" Date: 30 October 2019
ForB S R & Co. LLP Chartered Accountants
~Fk~~:'J?r: 101248WAV-I00022
Shashank Agarwal
Partner Membership Number: 095109
UDIN: \qoc; S' loc;'AAAAF:Z:. cH39'1'
2
Page 1-4
MPS LimitedRegistered Office: 4th Floor, R.R Towers IV, Super A, 16/17, T.V.K. Industrial Estate, Guindy, Chennai 600 032Tel: +91 44 49162222, Fax: +91 44 49162225, Email: [email protected], Web site: www.mpslimited.com CIN: L22122TN1970PLC005795
STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2019(INR in lacs, except per equity share data)
Sl No
Particulars Three months ended
Preceding three months ended
Corresponding three months
ended in previous year
Year to date figures for
six months in current period
ended
Year to date figures for
six months in previous period
ended
Previous year ended
30-Sep-2019 30-Jun-2019 30-Sep-2018 30-Sep-2019 30-Sep-2018 31-Mar-2019
(Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Audited)
I Revenue from operations (net) 8,820 8,363 10,059 17,183 17,272 36,254
II Other income 644 568 387 1,212 799 2,526
III Total income (I+II) 9,464 8,931 10,446 18,395 18,071 38,780
IV Expenses
Employee benefit expense 4,078 4,277 4,611 8,355 7,859 16,446
Finance cost 53 53 2 106 4 19
Depreciation and amortization expense 385 385 309 770 517 1,107
Other expenses 2,090 2,049 2,867 4,139 4,904 10,473
Total expenses 6,606 6,764 7,789 13,370 13,284 28,045
V Profit before exceptional items (III-IV) 2,858 2,167 2,657 5,025 4,787 10,735
VI Exceptional items - - - - - -
VII Profit before tax (V-VI) 2,858 2,167 2,657 5,025 4,787 10,735
VIII Tax expenses
Current tax 550 600 788 1,150 1,569 3,052
Adjustment of tax relating to earlier years 21 - - 21 - 36
Deferred tax charge 77 29 2 106 (177) 44
Total tax expense 648 629 790 1,277 1,392 3,132
IX Profit for the period (VII-VIII) 2,210 1,538 1,867 3,748 3,395 7,603
X Other comprehensive income
Items that will not be reclassified to profit or loss
Remeasurement of the net defined benefit liability/asset (43) (8) 121 (51) 130 89
Income tax relating to items that will not be reclassified to profit or loss 11 2 (40) 13 (43) (28)
Items that will be reclassified subsequently to profit or loss
Exchange differences on translation of foreign operations 152 5 343 157 589 277
Total other comprehensive income 120 (1) 424 119 676 338
XI Total comprehensive income for the period (IX+X) 2,330 1,537 2,291 3,867 4,071 7,941
XII Paid-up equity share capital (Face Value - INR 10 per Equity Share) 1,862 1,862 1,862 1,862 1,862 1,862
XIII Earnings per equity share (nominal value of share INR 10)
Basic and Diluted 11.87 8.26 10.02 20.13 18.23 40.83
Page 2-4
STATEMENT OF UNAUDITED CONSOLIDATED ASSETS AND LIABILITIES (INR in lacs)
S.No. Particulars As at 30-Sep-2019
As at 31-Mar-2019
(Un-Audited) (Audited)
A ASSETS
1 Non-current assets
Property, plant and equipment 2,007 2,137
Capital work in progress 1 18
Investment property 109 111
Right-of-use assets 1,747 -
Goodwill 6,052 6,007
Other intangible assets 1,821 2,032
Financial assets
Loans 250 244
Other financial assets 27 27
Income tax assets (net) 1,083 970
Deferred tax assets (net) 35 86
Other non-current assets 422 462
Total non-current assets 13,554 12,094
2 Current assets
Financial assets
Investments 17,373 21,205
Trade receivables 4,991 6,871
Cash and cash equivalents 6,371 4,752
Other bank balances 2,948 2,916
Loans 50 30
Other financial assets 593 441
Income tax assets (net) - 42
Other current assets 6,542 5,390
Total current assets 38,868 41,647
TOTAL ASSETS 52,422 53,741
B EQUITY AND LIABILITIES
1 Equity
Equity share capital 1,862 1,862
Other equity 43,286 45,254
Total equity 45,148 47,116
2 Liabilities
Non-current liabilities
Financial liabilities
Lease liabilities 1,478 -
Provisions 55 47
Deferred tax liabilities (net) 621 668
Total non-current liabilities 2,154 715
3 Current liabilities
Financial liabilities
Lease liabilities 597 -
Trade payables
Due to Micro and Small enterprises 4 26
Due to Others 1,087 1,305
Other financial liabilities 789 708
Other current liabilities 2,252 3,467
Provisions 242 268
Income tax liabilities (net) 149 136
Total current liabilities 5,120 5,910
TOTAL EQUITY AND LIABILITIES 52,422 53,741
Page 3-4
STATEMENT OF UNAUDITED CONSOLIDATED CASH FLOW (INR in lacs)
Sl No Particulars Year to date figures for six months
in current period ended
Year to date figures for six months
in previous period ended
Previous year ended
30-Sep-2019 30-Sep-2018 31-Mar-2019
(Un-Audited) (Un-Audited) (Audited)
A Cash flow from operating activities
Net profit before tax 5,025 4,787 10,735
Adjustments:
Depreciation and amortisation expense 770 517 1,107
Interest income (288) (17) (87)
Dividend income (3) (8) (13)
Net gain on sale of current investment (25) (137) (159)
Finance costs 106 4 19
(Gain)/loss on sale/disposal/discard of property, plant and equipment (net) (10) 17 17
Gain on investment carried at fair value through profit or loss (649) (567) (1,442)
Liabilities/provisions no longer required written back (66) (24) (199)
Allowances/(reversal) for expected credit loss 22 20 (16)
Bad debts written off - 25 74
Loss/(gain) allowance for doubtful advances 2 (4) -
Income from government grants - - (567)
Loans and advances written off 1 - -
Unrealised foreign exchange loss/(gain) (net) 74 (79) (8)
Unrealised foreign exchange loss/(gain) on mark-to-market on forward contracts 123 247 (137)
Operating cash flows before working capital changes 5,082 4,781 9,324
Decrease/(increase) in trade receivables 1,817 (1,467) (1,128)
(Increase)/decrease in loans (29) (77) 232
(Increase)/decrease in other financial assets (157) (1,255) 2,271
(Increase) in other current assets (1,152) (405) (2,799)
Decrease in other non current assets 7 76 132
(Decrease)/increase in trade payables (191) 119 (52)
Increase/(decrease) in other financial liabilities 81 431 (103)
(Decrease)/increase in other current liabilities (1,215) 312 1,135
(Decrease) in short-term provisions (38) (136) (122)
Cash generated from operations 4,205 2,379 8,890
Income tax paid (net of refund) (1,203) (1,510) (3,527)
Net cash generated from operating activities (A) 3,002 869 5,363
B Cash flow from investing activities
Purchase of property, plant and equipment (including capital work-in-proress) (61) (152) (281)
Purchase of other intangible assets (95) - (37)
Sale of property, plant and equipment 17 55 63
Acquisition of business - (6,450) (6,450)
Purchase of current investments (11,585) (14,292) (22,838)
Sale of current investments 16,090 23,456 32,034
Purchase of term deposits (32) (15) (2,915)
Dividends received 3 8 13
Interest received 144 16 25
Net cash generated from/(used in) investing activities (B) 4,481 2,626 (386)
C Cash flow from financing activities
Repayment of lease liabilities including interest expenses (347) - -
Finance cost paid - (5) (9)
Final dividend paid (4,654) (2,234) (2,234)
Tax on dividend (957) (459) (459)
Net cash used in financing activities (C) (5,958) (2,698) (2,702)
Net increase in cash and cash equivalents (A+B+C) 1,525 797 2,275
Impect on cash flow on account of foreign currency translation reserve 110 371 180
Effects of exchange differences on cash and cash equivalents held in foreign currency (16) 74 (2)
Cash and cash equivalents at the beginning of the period 4,752 2,299 2,299
Cash and cash equivalents at the end of the period 6,371 3,541 4,752
Page 4-4
NOTES:1 These results have been prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules 2015. These results have been reviewed by
the Audit Committee and upon their recommendation, approved by the Board of Directors at their meeting held on 30 October 2019. The Statutory auditors of the Company have carried out limited review of the financial results for the quarter and half year ended 30 September 2019 and an unmodified report has been issued. The same has been filed with Stock Exchanges and is also available on the Company’s website at www.mpslimited.com.
2 Segment Reporting
(a) Based on the “management approach” as defined in Ind AS108 Operating Segments, the Chief Operating Decision Maker (‘CODM’) evaluates the Group’s performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along with these business segments. The accounting principles used in the preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments.
(INR in lacs)
Sl No Particulars
Three months ended
Preceding three months
ended
Corresponding three months
ended in previous year
Year to date figures for six months in current
period ended
Year to date figures for six months in previous
period ended
Previous year ended
30-Sep-2019 30-Jun-2019 30-Sep-2018 30-Sep-2019 30-Sep-2018 31-Mar-2019
(Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Audited)
i Segment revenue
Content solutions 5,449 5,000 6,037 10,449 11,386 23,283
eLearning solutions 1,917 1,896 2,292 3,813 3,018 6,996
Platform solutions 1,454 1,467 1,730 2,921 2,868 5,975
Total revenue from operations 8,820 8,363 10,059 17,183 17,272 36,254
ii Segment results (profit before tax, exceptional items and interest from each segment)
Content solutions 2,026 1,454 2,474 3,480 4,481 8,626
eLearning solutions 247 198 (129) 445 (245) (276)
Platform solutions 609 513 721 1,122 1,280 2,260
Total 2,882 2,165 3,066 5,047 5,516 10,610
Less: Finance cost 53 53 2 106 4 19
Less: Un-allocable expenditure (net of un-allocable income) (29) (55) 407 (84) 725 (144)
Profit before tax 2,858 2,167 2,657 5,025 4,787 10,735
(b) Assets and liabilities used in the Group’s business are not identified to any of the reportable segments, as these are used interchangeably between segments and the management believes that it is not practicable to provide segment disclosures relating to total assets and liabilities.
3 Effective 1 April 2019, the Group adopted Ind AS 116 “Leases”, applied to all lease contracts existing on 1 April 2019 using the modified retrospective method and has taken the cumulative adjustment to retained earnings, on the date of initial application. Accordingly, comparatives for the year ended 31 March 2019 have not been retrospectively adjusted. On transition, the adoption of the new standard resulted in recognition of Right-of-use asset (ROU) of INR 2,002 Lacs and a lease liability of INR 2,319 Lacs. The cumulative effect of applying the standard resulted in INR 225 Lacs being debited to retained earnings, net of taxes. The effect of this adoption is not material on the profit for the period and earnings per share.
4 The Board of Directors, in their meeting held on 17 May 2019 had recommended a final dividend of INR 25 per equity share (face value of INR 10 per share) for the financial year 2018-19. This was approved in the Annual General Meeting of the Company held on 24 July 2019 and paid during the quarter ended 30 September 2019.
5 The Standalone results of the Company are available on the Company’s website www.mpslimited.com. The key standalone financial information of the Company is given below:
By Order of the Board of Directors
Rahul Arora
Place: Gurugram
Dated: October 30, 2019 Managing Director
(INR in lacs)
Particulars
Three months ended
Preceding three months
ended
Corresponding three months
ended in previous year
Year to date figures for six months in current
period ended
Year to date figures for six months in previous
period ended
Previous year ended
30-Sep-2019 30-Jun-2019 30-Sep-2018 30-Sep-2019 30-Sep-2018 31-Mar-2019
(Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Un-Audited) (Audited)
Revenue from operations 5,102 4,678 5,970 9,780 11,630 22,396
Profit before tax 2,361 1,752 2,761 4,113 5,192 10,586
Tax expense 497 515 806 1,012 1,492 3,112
Profit for the period 1,864 1,237 1,955 3,101 3,700 7,474
Other comprehensive income, net of income tax (3) (10) 2 (13) 8 (10)
Total comprehensive income for the period 1,861 1,227 1,957 3,088 3,708 7,464
Financial PerformanceQ2 FY’20
www.mpslimited.com
Financial Summary
Analysis (FX Gain/Loss Adjusted Revenue)• Profit and Margins are on FX Gain/Loss adjusted revenue.
FY20 Q2 FY19 Q2 Q-o-Q FY20 YTD FY19 YTD Y-o-Y
FX Gain/Loss adjusted revenue (INR Lacs) 8,847 9,981 -11% 17,309 17,092 1%
Reported Revenue (INR Lacs) 8,820 10,059 -12% 17,183 17,272 -1%EBITDA on Fx adjusted revenue (INR Lacs) 2,670 2,603 3% 4,798 4,537 6%
PBT (INR Lacs) 2,858 2,657 8% 5,025 4,787 5%PAT (INR Lacs) 2,210 1,867 18% 3,748 3,395 10%
EBITDA (%) 30.2% 26.1% 27.7% 26.5%PBT (%) 32.3% 26.6% 29.0% 28.0%
PAT (%) 25.0% 18.7% 21.7% 19.9%Headcount At the end of each reporting period in Nos. 2,403 2,740 2,403 2,740
EPS Basic and Diluted EPS (INR) 11.87 10.02 20.13 18.23
Metrics
Revenue
Profit
Margin
www.mpslimited.com
Financial Summary – Business Segments
Analysis (FX Gain/Loss Adjusted Revenue)• Platform Solutions includes TOPSIM GmbH. .• eLearning includes MPS Interactive Systems and MPS EUROPA.• Profit and Margins are on FX Gain/Loss adjusted revenue.
Content Solutions
Platform Solutions
eLearningContent Solutions
Platform Solutions
eLearningContent Solutions
Platform Solutions
eLearningContent Solutions
Platform Solutions
eLearning
FX Gain/Loss adjusted revenue (INR Lacs)
5,458 1,455 1,934 5,955 1,712 2,313 10,539 2,937 3,833 11,229 2,834 3,029
Reported Revenue (INR Lacs)
5,449 1,454 1,917 6,037 1,730 2,292 10,448 2,921 3,814 11,386 2,868 3,018
EBITDA (INR Lacs) 1,810 434 425 2,080 524 -1 3,202 821 774 3,726 887 -75
PBT (INR Lacs) 2,142 470 246 2,266 541 -150 3,648 863 514 4,109 944 -266
PAT (INR Lacs) 1,668 354 188 1,592 380 -105 2,737 633 378 2,977 684 -266
EBITDA (%) 33.2% 29.8% 22.0% 34.9% 30.6% 0.0% 30.4% 28.0% 20.2% 33.2% 31.3% -2.5%
PBT (%) 39.2% 32.3% 12.7% 38.1% 31.6% -6.5% 34.6% 29.4% 13.4% 36.6% 33.3% -8.8%
PAT (%) 30.6% 24.3% 9.7% 26.7% 22.2% -4.5% 26.0% 21.5% 9.9% 26.5% 24.1% -8.8%
HeadcountAt the end of each reporting period in Nos.
1,978 177 248 2,237 216 287 1,978 177 248 2,237 216 287
FY20 YTD FY19 YTD
Margin
MetricsFY20 Q2 FY19 Q2
Revenue
Profit
www.mpslimited.com
Other Updates
Cash and Cash equivalents
o Total Cash and Cash equivalents (including investment in Mutual funds) as on 30‐Sep‐2019 is INR 267 Crores and INR 289 Crores as on 31‐Mar‐19; Zero debt
CSR Update
o Total Spending for Q2 FY’20 INR 50.40 Lacs.
IIMPACTo Area Covered: Girls Educationo Project Name: MPS Limited Girls Education Projecto Total Learning Centres being Supported: 100
Vedanta Cultural Foundationo Area Covered: Promoting education, including special education and employment enhancing vocation skills, especially amongchildren, women, elderly and the differently abled and livelihood enhancement projects.
Computer Educationo Imparting free computer education to under privileged students.
SAMBANDHo Area Covered: MENTAL HEALTHo Pilot Project at Gurgaon
www.mpslimited.com
Key Business Metrics
Core Business (does not include eLearning Solutions and TOPSIM)
FY20 Q2 FY19 Q2 FY20 YTD FY19 YTD
USD 85% 83% 83% 83%
GBP 11% 13% 13% 14%
EURO 2% 2% 2% 2%
INR 1% 0% 0% 0%
Others 1% 2% 2% 1%
North America 56% 54% 53% 52%
UK/Europe 41% 42% 43% 45%
Rest of the World 3% 4% 4% 3%
Debtors DSO 52 61 54 60
Client Billed 292 276 323 352
Top 5 contribution 60% 54% 57% 54%
Top 10 contribution 77% 72% 75% 71%
Top 15 contribution 85% 83% 82% 78%
Geographic Concentration
Client Concentration
Metrics
Currency Contribution (%)
www.mpslimited.com
Key Business Metrics
Consolidated
FY20 Q2 FY19 Q2 FY20 YTD FY19 YTD
USD 73% 68% 72% 72%
GBP 8% 10% 9% 11%
EURO 7% 6% 7% 4%
CHF 3% 3% 3% 2%
AED 0% 2% 1% 1%
INR 5% 6% 5% 5%
Others 4% 5% 3% 5%
North America 55% 52% 53% 51%
UK/Europe 37% 37% 39% 40%
Rest of the World 8% 11% 8% 9%
Debtors DSO 53 66 53 69
Client Billed 541 512 707 606
Top 5 contribution 43% 43% 40% 47%
Top 10 contribution 59% 58% 56% 62%
Top 15 contribution 68% 68% 66% 70%
Geographic Concentration
Client Concentration
Metrics
Currency Contribution (%)
www.mpslimited.com
Balance Sheet
ParticularsAs at 30-Sep-19
(Un-Audited)As at 31-Mar-19
(Audited)% of Change
Equity Share Capital 1,862 1,862 0%Other Equity 43,284 45,254 -4%Total Equity 45,146 47,116 -4%
Non-current Assets (net) 11,399 11,379 0%Current Assets (net) 33,747 35,737 -6%Total Application of Funds 45,146 47,116 -4%
Equity
Application of Funds
INR Lacs.
www.mpslimited.com
Disclaimer
This presentation contains forward-looking statements, inter-alia, to enable investors to comprehend Company’s prospects and take informed investment decisions. This report and other statements – written and oral – that we periodically make, contain forward-looking statements that setout anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words as ‘anticipate’, ‘estimate’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realized, although we believe we have been prudent in assumptions. The achievement of results is, inter-alia, subject to assumptions, risks, uncertainties, including but not limited to our ability to successfully conclude and integrate (potential) acquisition(s) and general regulatory and economic conditions affecting the industry. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated, expected or projected. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further this presentation may also contain references to findings of various reports available in public domain. We make no representations as to their accuracy or that we necessarily subscribe to those findings. Figures for previous periods / year have been regrouped, wherever necessary.
Thank You
Ms. Achal Khanna CEO, SHRM India and Business Head – MENA & APAC ______________________________________________________________________________
Ms. Achal Khanna is the CEO for SHRM India and Asia Pacific Head for Business Development. SHRM India is a wholly owned subsidiary of the Society for Human Resource Management (SHRM), which is the world’s largest association devoted to human resource management with more than 2,90,000 members worldwide.
Achal is responsible for leading the India operations of SHRM, as well as Asia Pacific operations including Middle-East. She serves on the global SHRM Leadership Team and is responsible for building the brand, expanding its business and developing professional relationships with government agencies, and other HR and business associations in the region.
Achal has over 30 years of work experience. Prior to joining SHRM, she was Managing Director for Kelly India operations; Vice President for GE; and Country Manager for Polaroid India. She has also worked with Dupont, ITC and Cosmo Group in various capacities.
She is a recipient of the “Best Women Executive in India” award.
Achal holds a Bachelor’s degree in Economics; a Master’s Degree in English Literature and she is an MBA from Delhi.
_____________________________________________________________________________
Bio-Profile
Jayantika Davé
Jayantika is an Independent, Non-Executive Director on the Ingersoll Rand India Board, and is a
Founder Trustee of the Delhi Bird Foundation, and the KN Dave Educational Trust. She is also an
Executive Coach, and a consultant on HR Strategy.
Prior to these roles, she was the Vice-President – Human Resources Ingersoll Rand in India, and led
the Human Resource strategy and direction for Ingersoll Rand’s aggressive growth plans in India.
Under her leadership, Ingersoll Rand India was repeatedly recognized as an Employer of Choice,
and the Human Resources team won a number of awards for excellence in Leadership
Development, and for Innovative HR Practices.
Before this, she was the Head of Human Resources for Agilent Technologies in India, and also held
Human Resource leadership positions in Hewlett Packard India. She has also worked as a
Consultant in different areas of business and as an Entrepreneur.
Throughout her multi-faceted, 35 year long career, she has always been a key business consulting
partner, as well as the architect for senior leadership development, a Coach for the senior leaders
in the organization in India, and a mentor for the HR team. Her role has involved growing,
acquiring, and divesting businesses, and building organization capability. She has had multi-sector
experience, in the Industrial, Hi-Tech, and Financial Services sector, and with diverse teams -
Sales, R&D and Support.
She is a certified Executive and Life Coach from ICF, a certified Assessor for Intercultural
Development Inventory (IDI), for Myers Briggs Type Indicator (MBTI), and for Personality & Profiles
Inventory (PAPI).
She is an Economics Honours graduate from Lady Shri Ram College, Delhi University, and has a
Master’s in Business Administration from the Faculty of Management Studies, Delhi University.